Mudryk, who Chelsea signed for €70 million ($76,620m) from Shakhtar Donetsk in January, struggled to make an impact in the Premier League last season and will now have the opportunity to play regular football for his country during the tournament that begins on June 21.
Mudryk arrived at Stamford Bridge having not played a competitive game of football for two months because of the winter break in Ukraine.
The 22-year-old, who is still available for the U21s despite his age, made 15 Premier League appearances for Chelsea in the second half of last season, contributing two assists but failing to score a single goal.
Mudryk will remain with Ukraine's senior squad for the country's Euro 2024 qualifier against North Macedonia on Friday before joining the U21 squad for the tournament hosted in Romania and Georgia.
Ukraine have been drawn in group B for the U21 Euros alongside Spain, Romania and Croatia.